Keefe, Bruyette & Woods Issues Positive Forecast for Allstate (NYSE:ALL) Stock Price

Allstate (NYSE:ALL) had its price target hoisted by equities research analysts at Keefe, Bruyette & Woods from $235.00 to $243.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 30.61% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Raymond James increased their price target on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. Wells Fargo & Company boosted their price objective on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Barclays lowered their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday. Piper Sandler boosted their price target on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $218.06.

Allstate Stock Down 3.0 %

Shares of NYSE ALL opened at $186.05 on Friday. Allstate has a 52-week low of $148.23 and a 52-week high of $209.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The business has a fifty day moving average of $195.91 and a two-hundred day moving average of $185.23. The stock has a market cap of $49.27 billion, a PE ratio of 12.05, a PEG ratio of 1.70 and a beta of 0.52.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. Allstate’s quarterly revenue was up 14.7% compared to the same quarter last year. As a group, equities research analysts expect that Allstate will post 16.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allstate

Several hedge funds have recently made changes to their positions in ALL. SPC Financial Inc. grew its holdings in Allstate by 3.6% during the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after buying an additional 54 shares in the last quarter. Lake Street Advisors Group LLC increased its holdings in Allstate by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock worth $596,000 after acquiring an additional 54 shares during the period. Abacus Planning Group Inc. boosted its holdings in Allstate by 2.4% in the 3rd quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock valued at $458,000 after purchasing an additional 56 shares during the period. Chicago Partners Investment Group LLC grew its position in shares of Allstate by 1.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock valued at $893,000 after purchasing an additional 59 shares in the last quarter. Finally, Carmichael Hill & Associates Inc. raised its position in shares of Allstate by 15.0% in the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock worth $87,000 after buying an additional 60 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.